How Getting a Divorce Affects Your Auto Insurance
Posted by Michelle Rue on Fri, Mar 12, 2010 @ 02:42 PM
Going through a divorce is not something most people look forward to. Not only is it emotionally draining, but it is also a struggle dealing with all of the various policies and accounts that the two of you have together.
One of those accounts may be your auto insurance. Many couples have found that buying a joined auto insurance policy saves them money, but now what? Will you lose your policy? Can the policy be split?
Like many things with a divorce, it depends a lot on the type of relationship the couple has after the split. If the couple is still able to be friends and will continue some kind of relationship due to children, or other circumstances then it might be best to keep the policy in place.
However, many of us know that the chances of a couple remaining in good standing with one another isn't very common. In this case it is usually best that each person gets their own policy.
If one person is planning on keeping the vehicle(s) that were previously shared, then it usually makes sense for the policy to follow the vehicle(s). If the vehicle(s) is going to be sold than the policy can be canceled.
Like I said before, it depends on the relationship and each person's individual needs. Make sure not to leave your auto insurance in the dust though. Some people have had problems with their ex canceling their policy without informing them. You don't want to be driving without insurance, so make sure your auto insurance is covered.
Thanks .ygor for the photo!